Mr Kerzner’s company has signed an agreement in principle to build a $350m (ﾣ211m) casino and hotel resort at the Dome, which has been falling into disrepair since it was closed to the public in 2001. The deal has been struck between Kerzner International and Anschutz Entertainment Group Europe, which is creating an entertainment and sports arena within the Dome.
AEG Europe, which is wholly owned by Phillip Anschutz, the Denver-based rail and telecommunications billionaire, hopes to begin building at the Dome within 12 months of gaining final planning permission for its project. This is expected in spring next year. Kerzner International owns the lavish Atlantis hotel and casino resort in the Bahamas and recently acquired its first UK gaming licence.
The company declined to comment on whether it had plans for the Dome but said: “We are monitoring a number of opportunities in the London area. We hope to become a big operator in London.”
AEG Europe said it was “in talks with various parties regarding the overall entertainment mix of the Dome”. It added: “There has been speculation about a possible casino at the Dome since day one and AEG believes that a casino could play a part in the overall entertainment mix.”
The Dome casino development hinges on the deregulation of the gambling industry, which is likely to become law by 2005.
The Dome cost ﾣ800m to build. Maintenance is costing taxpayers more than ﾣ200,000 a month.
By Matthew Garrahan, The Financial Times
